India Financial News

Shares of Samvardhana Motherson International Ltd.(up 3.16 per cent) and Bosch Ltd.(up 1.16 per cent) ended the day as top gainers in the pack.

Building on the success of its versatile SPARK series, the TECNO SPARK 20 Pro 5G is designed to meet the diverse needs of the Indian market. It features support for 10 5G bands, ensuring broad coverage and blazing fast speeds with Link Booming Technology that boosts internet speed by 50%. The Smart 5G 3.0 technology optimizes usage and extends battery life by 20%, making it a true #5GKaChampion.

car sales slowed in the first half of the year with combined sales at Mercedes-Benz, BMW and Audi growing 5.5% from a year earlier to 18,843 units, according to data from companies. This compares with a 23% on-year increase in the first half of 2023 at 17,869 units. Carmakers attributed the sluggish performance to a broader slowdown in the Indian car market, besides intense heat waves this summer, and an extended general election. Some experts also cited a shift in spending by the wealthy to experiences such as bespoke holiday itineraries. Luxury automakers are hoping to post a recovery in the second half, which will feature the festive season starting in September with Ganesh Chaturthi and Onam, and peaking with Dussehra and Diwali in October-November. This period is the most crucial for consumer durables like cars, accounting for 30-35% of annual sales.

Reasons to buyReasons to avoidThe Samsung Convection Microwave MC28A6035QS features a 28-liter capacity and a ceramic enamel cavity for easy cleaning and durability. It comes with a slim fry technology for healthier frying options and a fermentation function for preparing homemade curd.

electric vehicle (EV) manufacturers, especially as it comes hard on the heels of a plunge in June sales. It's also divided the industry, pitting those that are betting on pure electrics such as Tata Motors against those that prefer the hybrid route, like Toyota and Maruti Suzuki. Sales of electric cars in June plunged 13.5% from the year earlier, having suffered a marginal drop in May, triggering fears that the Indian market may be following global trends. After last year's euphoria, domestic sales slumped to 20% growth in the January-June period to 46,845 units. That's down from a 135% surge in the same period last year, prompting Tata Motors and others to recalibrate expectations. UP Govt Holds Meeting with Auto Cos

financial institutions must guard against any misadventure or intelligent interpretation of regulations or accounting standards, deputy governor Swaminathan J said in his remarks at the conference of CFOs and statutory auditors organised by the Reserve Bank of India (RBI). Banks must also keep the amount of internal accounts to the minimum as some of these accounts have been found to be used as a conduit for certain fraudulent transactions, Swaminathan who is in charge of financial supervision and inspection departments with the central bank among others said. “We found certain banks having lakhs of such accounts with apparently no valid reason. Some of these accounts were also used as a conduit for certain fraudulent transactions and ever-greening of loan accounts. Internal accounts are high risk in nature on account of its potential for misuse. I therefore request the CFOs to have them rationalised completely, bring them down to the essential minimum and exercise greater control through periodical reconciliation and a proper reporting to the audit committee of the board (ACB), Swaminathan said.

Hero MotoCorp, Bajaj said he would stop making scooters altogether. It was a tectonic shift for a company that built its name riding on scooters. At its peak, the company sold nearly a million scooters every year in the mid-1990s.

ED) Mumbai has provisionally attached assets worth Rs 14.02 crore of five accused under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA) in the case of an Income Tax Refund fraud of Rs. 263 crore. This includes one flat in Mumbai of Purushottam Chavan, land parcels in Lonavala and Khandala of Rajesh Batreja, balance in Anirudh Gandhi's company bank A/c, insurance policies of accused Rajesh Shetty and Bhushan Anant Patil and fixed deposits totalling to Rs. 14.02 crore, the ED said in a release on Friday. According to officials, ED initiated an investigation on the basis of an FIR registered by CBI under various sections of the IPC, 1860 and of Prevention of Corruption Act, 1988 against Tanaji Mandal Adhikari and others for fraudulently generating and issuance of TDS refunds from the Income Tax Department to the tune of Rs. 263.95 Crore.

Honda Cars India on Monday reported a 5 per cent fall in wholesales in the domestic market to 4,804 units in June. The company had dispatched 5,080 units to its dealers in the domestic market in June 2023, Honda Cars India Ltd (HCIL) said in a statement. Exports, however, grew two-fold to 4,972 units last month against 2,112 units exported in June last year, it added.

US Green Card applications: The August 2024 Visa Bulletin has been released, revealing slight progress for India's EB-2 and EB-3 categories. Meanwhile, other employment-based (EB) categories see no change. In the first preference category (EB-1, Priority Workers), the dates hold steady across all countries. For EB-1 India, the cutoff date remains February 1, 2022. This update is particularly significant for Indian applicants in the EB-2 (Advanced Degree Professionals) and EB-3 (Skilled Workers) categories, as any forward movement in priority dates can impact their green card application process. While the advancements are minor, they provide a glimmer of hope for many waiting in line. The unchanged status of the EB-1 category suggests that demand remains high, and the backlog continues. The steady date of February 1, 2022, for EB-1 India indicates that applicants will have to wait longer for their priority dates to become current.

In a good news, «Kalki 2898 AD» will indeed be released on OTT streaming platforms as Amazon Prime and Netflix have brought rights of the movie. Amazon Prime will stream the Telugu, Tamil, Malayalam, Kannada version of the film along with English subtitles. Netflix will stream the Hindi version of «Kalki 2898 AD». There will be English subtitled as well, according to reports.

EPF members who are retiring are already getting interest along with their PF settlements. When will EPF interest be credited for FY 2023-24?Here’s what EPFO has said, 4 ways to check PF balance

Rohit Pawar slammed the Mahayuti government for putting up photos of political party leaders at the Chief Minister's official residence where members of the Indian Cricket team were invited after their T20 World Cup win. «There are photos of political leaders. It seems as if they won the World Cup. The photos of the Indian team should have been put up. Secondly, are you asking for votes here on the success of the Indian team, these things are very wrong. It is not right to do politics. Let the Mahayuti do whatever they want. We will be welcoming the team with an open heart,» Rohit Pawar said speaking to on Friday. Pawar said that since a lot of people had come to watch the World Cup winning team and to congratulate them during the open bus victory parade from Marine Drive to Wankhede Stadium, it led to people facing «little trouble» in some places. Pawar also claimed that the program was finalized at the last moment leading to inadequate time for preparations.'

Agniveer named Shrikant Kumar Choudhary from Ballia district in Uttar Pradesh took his own life on Tuesday night, reported The Times of India. He used his INSAS service rifle inside the technical area of the Indian Air Force complex at Agra's Tajnagari under Shahganj police station. The reasons behind his actions are currently unknown as no suicide note was found. The Indian Air Force (IAF) has initiated an inquiry to ascertain the circumstances leading to Shrikant's death. His cremation took place on Thursday in his native village Narayanpur, with a ceremonial guard of honour.

Ericsson has reported a 44% on-year fall in sales in the second quarter of calendar 2024 in market area Southeast Asia, Oceania and India, primarily due to a moderation in network capex spends by India's top two telcos, Bharti Airtel and Reliance Jio, post-completion of their pan-India 5G rollouts. Ericsson's sales in the Southeast Asia, Oceania and India market area plunged to 7.7 billion crowns (₹6,116 crore approx) in Q2 2024, from 13.8 billion crowns (₹10,961 crore) in the year-ago period. Sequentially, the vendor's net sales in this region was down 10%. «Sales decreased by -44% YoY. Networks sales declined primarily in India as investment levels have normalised after a record year in 2023,» Ericsson said in its earnings report Friday.

SKM on Thursday announced it will resume its agitation over its pending demands, including a legal guarantee to MSP and loan waiver, and submit a memorandum to the prime minister and the leader of opposition in the Lok Sabha. The Samyukt Kisan Morcha (SKM), which led the 2020-21 farmers' protest, made the announcement a day after its general body met. «The general body has decided to resume the agitation demanding implementation of the agreement, dated December 9, 2021, that the Union government has with the SKM, signed by the Secretary of the Department of Agriculture, Government of India, and other key demands affecting the livelihood of farmers,» the SKM said. It said the organisation will submit an updated charter of demands to all MPs,

PTI quoted an ICC board member as saying.Pakistan will host the ICC event from 19 February to 9 March, while 10 March has been kept as a reserve day for the final ICC event.With details pouring in, India has been placed in Group A with Pakistan, Bangladesh, and New Zealand, while Australia, South Africa, England, and Afghanistan are in Group B.Earlier, PCB chairman Mohsin Naqvi – invited to watch the T20 World Cup final in Barbados – had submitted a 15-match schedule with all of India's games kept in Lahore for security and logistical reasons, added the PTI report."The PCB has submitted the draft of the 15-match ICC Champions Trophy. Seven games in Lahore, three in Karachi and five in Rawalpindi," PTI's ICC source said."The opening match will be held in Karachi with two semifinals in Karachi and Rawalpindi, final in Lahore.

Pepsi and Coca-Cola, a staple of countless Indian television advertisements over the decades, seems set to spill over into the Indian stock markets. Ravi Jaipuria, chairman of RJ Group, began his career as a vendor for Coca-Cola before switching allegiance to Pepsi in the 1990s. His group's flagship company, Varun Beverages, now stands as the largest bottler of PepsiCo's beverages globally, outside the US.

electrolyser manufacturing under the production-linked incentive (PLI) scheme, have conveyed to the government that they will be able to commission their units by next year, ahead of the 2026 deadline, said people aware of the development. This will be a boost to India's green ambitions as electrolysers are essential for green hydrogen production. John Cockerill Greenko Hydrogen, L&T Electrolysers, Reliance Electrolyser Manufacturing and Adani New Industries see their manufacturing units ready by 2025.

MUMBAI , NEW DELHI : Mumbai/New Delhi: The market for voluntary carbon trading is picking up in India, even before the planned rollout of an official mechanism to speed up the decarbonization journey. However, an abundance of carbon certificates due to the flurry of renewable energy projects has dampened their prices, experts said. At the heart of this market are international renewable energy certificates (I-REC) accrued by the country’s fast-growing clean energy sector.